GKN Aerospace, an international aerospace manufacturing company, will add a new manufacturing facility in Venture Crossings Enterprise Centre in Bay County.
GKN plans to lease the new manufacturing facility were announced by officials with the St. Joe Company and Bay Economic Development Alliance in a release posted on the Bay County Chamber of Commerce website. GKN said it is looking to "make a capital investment of approximately $50 million and create 170 new jobs for highly skilled employees," according to the release.
“This investment emphasizes our commitment to manufacturing in North America, as this new world-class facility will create jobs and strengthen our competitive position in the U.S. aerospace market for the future,” Mike Grunza, CEO of GKN Aerospace’s Aerostructures North America business, said in the release. “The excellent support we have received from Bay County EDA, Gov. Rick Scott’s office, higher educational partners and the St. Joe Company made Florida an ideal location for GKN.”
GKN will lease the facility from a subsidiary of the St. Joe Company, the release said.
State Rep. Jay Trumbull (R-Panama City) said in the release that he thinks this project is great news for the state.
“When a global aerospace leader choses your community to open a manufacturing facility, it puts you on the international map,” Trumbull said in the release. “This is just the beginning, and we will not stop until Bay County is the economic engine for Florida’s Panhandle.”